Jeff Sailor's Step by Step Series transforms the daunting task of preparing personal financial statements into an achievable goal. This course, focusing on personal financial statements, stands out with its practical approach, guiding participants through each step of the process. By covering both accounting and reporting standards, it offers a comprehensive understanding of professional requirements. Additionally, the course explores various purposes and alternatives available for personal financial statements. The unique teaching style, infused with Jeff Sailor's humor and engaging video parodies, not only ensures an enjoyable learning experience but also reinforces key concepts. Participants will benefit from a blend of theoretical knowledge and practical application, enabling them to competently prepare and report personal financial statements, a valuable skill in the accounting and finance profession.
Learning Objectives
Upon successful completion of this course, the participant should be able to:
Identify professional accounting standards related to personal financial statements
Identify professional reporting standards related to personal financial statements
Describe the purposes for personal financial statements
Describe the alternatives available
Apply the GAAP and alternative methods of preparation
Apply the applicable reporting standards
Major Topics
Professional Requirements
Engagement Acceptance
Gathering Information
Preparation of Financial Statements
Disclosures
Reports
Documentation
Client Representation Letters
Guidelines for Specific Presentation
Considerations for an SPF
Compilation Requirements
